Insurer Reimbursement Amount definition

Insurer Reimbursement Amount. As of any Distribution Date, the sum of (x)(i) all Insured Payments and Avoided Payments paid by the Class A Certificate Insurer, but for which the Class A Certificate Insurer has not been reimbursed prior to such Distribution Date, plus (ii) interest accrued on such Insured Payments and Avoided Payments not previously paid calculated at the Late Payment Rate, from the date the Class A Certificate Insurer paid the related Insured Payments or Avoided Payments to the Securities Administrator or (in the case of Avoided Payments) other authorized recipient, and (y) without duplication, (i) any amounts then due and owing to the Class A Certificate Insurer under the Insurance Agreement or this Agreement but for which the Class A Certificate Insurer has not been paid or reimbursed prior to such Distribution Date, plus (ii) interest on such amounts at the Late Payment Rate.

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Insurer Reimbursement Amount means, as of any Primary Payment Date, the sum of (i) all amounts previously paid by the Insurer under the Insurance Policy which have not previously been reimbursed and (ii) all other amounts due to the Insurer under the Insurance Agreement and Indemnification Agreement, other than the Policy Premium.

Insurer Reimbursement Amount. The sum of (a) the aggregate unreimbursed amount of any payments made by the Insurer under the Policy, together with interest on such amount from the date of payment by the Insurer until paid in full at the Late Payment Rate (as defined in the Insurance Agreement) and (b) any other amounts owed to the Insurer under the Class I-A Insurance Agreement or pursuant to Section 3.03.

Examples of Insurer Reimbursement Amount in a sentence

During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided that the Note Insurer shall be entitled to any distributions in reimbursement of the Note Insurer Reimbursement Amount, and the Note Insurer shall retain those rights under Section 11.1 to consent to any amendment of this Agreement.
The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Majority Noteholders hereunder will terminate at such time as the Principal Balance of Insured Securities have been reduced to zero and the Securities Insurer has been paid the Securities Insurer Reimbursement Amount in full and all other amounts owed under the Guaranty Policy and Insurance Agreement and the Securities Insurer has no further obligation under the Guaranty Policy.
The Securities Administrator and the Trustee hereby agrees on behalf of each Holder of a Class AF-2 Certificate for the benefit of the Certificate Insurer that it recognizes that to the extent that the Certificate Insurer makes Guaranteed Distributions, either directly or indirectly (as by paying through the Securities Administrator), to the Class AF-2 Certificateholders, the Certificate Insurer will be entitled to receive the Certificate Insurer Reimbursement Amount pursuant to Section 5.05.
During the continuation of a Bond Insurer Default, rights granted or reserved to the Bond Insurer hereunder shall vest instead in the Owners; provided that the Bond Insurer shall be entitled to any distributions in reimbursement of the Bond Insurer Reimbursement Amount, and the Bond Insurer shall retain those rights under Section 11.1 to consent to any amendment of this Agreement.
The Trustee hereby agrees on behalf of each Noteholder for the benefit of the Insurer that it recognizes that to the extent the Insurer makes Insured Payments for the benefit of the Noteholders, the Insurer will be entitled to receive the related Insurer Reimbursement Amount in accordance with the priority of distributions referenced in Section 2.03(b) hereof.
Notwithstanding anything to the contrary in this Article V, the Noteholders may not direct the Indenture Trustee to take any of the actions set forth in Section 5.4(a) without the consent of the Note Insurer, if at the time of such action any Guaranty Insurance Premium, any Note Insurer Reimbursement Amount or any other amount is due and owing to the Note Insurer pursuant to the Guaranty Policy or the Insurance Agreement.
Insured Payments disbursed by the Trustee from proceeds of the Insurer's Policy shall not be considered payment by the Issuer with respect to the Notes, nor shall such payments discharge the obligation of the Issuer with respect to such Notes, and the Insurer shall become the owner of such unpaid amounts due from the Issuer in respect of such Insured Payments as the deemed assignee and subrogee of such Noteholders and shall be entitled to receive the Insurer Reimbursement Amount in respect thereof.
Concurrently with prepayment of any Series 2007-1 Senior Notes, the Co-Issuers shall pay or cause to be paid, directly to the Series 2007-1 Class A Insurer, the Series 2007-1 Accrued Insurer Premium Amount, the Series 2007-1 Insurer Expense Amount, the Series 2007-1 Insurer Reimbursement Amount and the Series 2007-1 Insurer Make-Whole Premium, if any, payable to the Series 2007-1 Class A Insurer under the Series 2007-1 Class A Premium Fee Letter.
The Securities Administrator and the Trustee hereby agrees on behalf of each Holder of a Class A Certificate for the benefit of the Certificate Insurer that it recognizes that to the extent that the Certificate Insurer makes Guaranteed Distributions, either directly or indirectly (as by paying through the Securities Administrator), to the Class A Certificateholders, the Certificate Insurer will be entitled to receive the Certificate Insurer Reimbursement Amount pursuant to Section 5.05.
During the continuation of a Bond Insurer Default, rights granted or reserved to the Bond Insurer hereunder shall vest instead in the Owners; provided that the Bond Insurer shall be entitled to any distributions in reimbursement of the Bond Insurer Reimbursement Amount, and the Bond Insurer shall retain those rights under Section 13.1 to consent to any amendment of this Agreement.

More Definitions of Insurer Reimbursement Amount

Insurer Reimbursement Amount. At any time, an amount owed to the Securities Insurer for any unreimbursed Insured Payments made under the Guaranty Policy and any other amounts then owing to the Securities Insurer under the Insurance Agreement, which have not previously been reimbursed, in each case together with interest thereon at the rate specified in the Insurance Agreement.] Securityholder: Any Noteholder or Certificateholder. Series or Series 200__-__: _____________ Home Loan Asset Backed Notes, Series 200__-__. [Servicer: One or more servicers that enter into a Servicing Agreement with the Master Servicer, which initially will be_______________________, a _____________________ ________________________ _______________ for an interim period, and thereafter will be ___________________, a __________ corporation.]

Insurer Reimbursement Amount means, as of any Payment Date, the sum of (i) all amounts previously paid by MBIA under the MBIA Policy which have not previously been reimbursed, (ii) all other amounts due to MBIA under the Insurance Agreement, other than the insurance premium and (iii) interest on the foregoing at the Late Payment Rate (as defined in the Insurance Agreement.)

Insurer Reimbursement Amount. The aggregate amount of the reimbursements that an Insurer is entitled to receive pursuant to the related Insurance Agreement and the related Insurance Policy.

Insurer Reimbursement Amount. As of any Distribution Date, the amount of all payments made by the Certificate Insurer pursuant to the Certificate Insurance Policy which have not been previously repaid, with interest thereon at the applicable Pass-Through Rate, plus all costs and expenses incurred by the Certificate Insurer in connection with any actions, suits or proceedings with respect to the Certificate Insurance Policy that have been certified by the Certificate Insurer to the Servicer, with interest thereon at the applicable Pass-Through Rate.